Qualifications and Experiences Employers Seek: Corporate Accounting

This report, prepared for the HI5020 Corporate Accounting course, investigates the qualifications and experiences that employers prioritize when hiring corporate accountants. The research involved collecting and analyzing 28 job advertisements from print and online sources in Australia. The report examines the evolution of the corporate accountant role, highlighting the shift from basic bookkeeping to a more professional, strategic position. It details the personal attributes employers seek, including trustworthiness, organizational skills, time management, attention to detail, flexibility, team spirit, communication, client focus, and commitment. The report further outlines essential educational requirements, typically a degree in accounting or finance with professional certifications. Duties of a corporate accountant, such as preparing financial statements, managing budgets, and liaising with auditors are also discussed. The report concludes with a discussion of emerging trends in corporate accounting, including tax planning, internet accounting, outsourcing, automation, and social media, emphasizing the need for accounting programs to adapt to these changes. The document provides valuable insights into the skills and qualities that are most valued by employers in the current corporate accounting landscape.

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Running head: CORPORATE ACCOUNTING
Corporate Accounting
Name:
Institutional Affiliation

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TABLE OF CONTENTS
Abstract.......................................................................................................................4
Introduction................................................................................................................4
Advertisement Job Titles..........................................................................................8
Personal attributes required from corporate accountants....................................9
Trustworthy..............................................................................................................9
Good Organizational Skills.....................................................................................9
Excellent Time Management skills......................................................................10
Attention to details................................................................................................10
Flexibility................................................................................................................10
Team spirit..............................................................................................................10
Communication skills...........................................................................................10
Client Focus...........................................................................................................11
High Commitment levels.......................................................................................11
Education...............................................................................................................11
Duties of a Corporate Accountant..........................................................................12
Preparation of financial statements and ledger.................................................12
Budgets..................................................................................................................12
Academic and professional qualifications for a corporate accountant.............13
Tax planning and structuring..................................................................................15
Internet accounting..................................................................................................16
Outsourcing..............................................................................................................16
Automation...............................................................................................................16
Social media.............................................................................................................17
Conclusion................................................................................................................19
References................................................................................................................21

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Qualifications and experiences that employers seek from Corporate
Accountants
ABSTRACT
The major purpose of this research paper is to determine what key
qualifications and experiences are mostly seeked by employers when hiring
corporate accountants and the importance of some attributes and skills for securing
employment opportunities in accounting. A critical study was conducted through the
collection of relevant job advertisements on the internet and the local dailies. A
comparison was then made on what was commonly seeked by prospective
employers and what was offered to accounting students in higher learning
institutions. The study involved data collection from a total 28 job advertisements in
Australia inclusive of print media and online platforms such as CareerOne, indeed
Australia and seek.
Introduction
The Corporate accountant position has seen some great revolution over the
decades. previously seen as just a bookkeeper, the accountant must now be
regarded from a professional view, as a result of this some specific skills and key
attributes are seeked by employers when sourcing for new accounting graduates
(Renan & Michaely 2018). With the continuous improvement in technology triggering
awareness, employees are expected to offer a sustainable competitive advantage to
the company leading to continuous development of new skills. Corporate accounting
graduates must now possess key skills and attributes in order to match the
employer’s expectations. The global business world keeps changing making skills
required in the corporate world diverse.
In Australia the corporate accountants are mainly tasked to ensure
organization of financial records in order to ensure compliance with the law,
organizational policies and regulations. Internally accountants execute financial
decisions (Haswell & McKinnon, 2003). Studies should be conducted from time to
time to identify deficiencies in the accounting education system and to revise the
accounting programs for provision of adequate future trainings in Australia which in
turn reduces the gap between the employer’s expectations and the student’s
perception.
There exist a lot of places where companies advertise jobs depending on the
audience targeted. Online advertisement can be seen as the most effective option in
finding the right fit for the job. Over the year’s companies are opting for other

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available options to replace the hard press which are mostly expensive with the jobs
only visible for a day.
During the research a total of 28 job advertisements was collected and analyzed.
Eight job advertisement was from the print press such as;
 The Australian-Insolvency accountant
 Adelaide Advertiser-Accounts officer
 The Age-Accounts officer
 Daily Telegraph-Insolvency accountant
 The conversion-Tax auditor
 WA Today-Assistant Accountant
 The Examiner-Rates office
 The west- Financial Controller
The remaining twenty was collected from online platforms. This online job
platforms include;
 Linked in-Payroll and administration officer and Assistant accountant
 All jobs-Assistant financial accountant, Bookkeeper, Part-time operational
accountant, assistant corporate accountant
 APS JOBS-Corporate accountant, senior corporate accountant
 Career one-Financial accountant
 Career jet- Finance manager and Key account Manager.
 Glassdoor- assistant corporate accountant
 GumTree-Accounting Coordinator
 Job seeker-Junior finance assistant and Manager Management Accounting
 Seek-Global investment analyst
 Adzuna-Financial Analyst
 Spot jobs-Key account holder
 Neuvoo-Finance Manager
Some of the organizations posting the job advertisements analyzed include;
 Buckleybrown
 Sydney Indoor plant
 McCorkell & Associates
 Troocoo
 News Corp Australia
 Couriers Please
 Fernway Partners
 Lens 10
 Shellharbour City Council
 CouriersPlease

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ADVERTISEMENT JOB TITLES
 Insolvency accountant
 Accounts officer
 Tax auditor
 Assistant Accountant
 Rates officer
 Financial controller
 Payroll and administration officer
 Assistant financial accountant
 Bookkeeper
 Part-time operational accountant
 assistant corporate accountant
 Corporate accountant
 senior corporate accountant
 Financial accountant
 Finance manager
 Key account Manager.
 assistant corporate accountant
 Accounting Coordinator
 Global investment analyst
 Financial Analyst
 Key account holder
PERSONAL ATTRIBUTES REQUIRED FROM CORPORATE ACCOUNTANTS
Organizations holds high expectations for corporate accountants due to the
sensitive nature of their jobs and the overall impact of the financial department to the
entire organization. In as much as most companies vary in business activities most
client expectations on accountants are similar from one organization to another
(Haswell & McKinnon, 2003). The main basis of any business decision as well is the
measure of financial situation of any organization is provided by financial analysis.
TRUSTWORTHY- Given the confidential nature of information dealt with by
accountants on a daily basis they are expected to be highly professional and ethical.
They should never share information with third parties even when they cease to work
at the given organization
GOOD ORGANIZATIONAL SKILLS- With all the data and figures and a lot of paperwork
utilized in day to day activities, it’s important for an accountant to be organized this
will in turn maximize productivity and ensure correct data analysis.
EXCELLENT TIME MANAGEMENT SKILLS- An excellent accountant should know how to
prioritize. The role of accountants has tremendously increased over time, apart from
financial management they are also expected to take part in key strategic decisions
in the company.

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ATTENTION TO DETAILS- Accountants work mainly with numbers and a small error
can greatly impact an outcome in financial analysis (Haswell & McKinnon, 2003).
They need to ensure that apart from numbers working they are also correct.
FLEXIBILITY-With the continuous advancement in technology business strategies
change at a very high rate therefore they should be able to easily adapt and conform
to new ways of business every now and then. An accountant is expected to respond
to working environment effectively while embracing any challenges.
TEAM SPIRIT-Working with other departments to provide necessary support to other
sections is important. It is also key to work in teams within the department to achieve
the organizational goal.
COMMUNICATION SKILLS-Accountants should be able to explain major financial
situations and analysis of financial data to non-finance staff members (Burns
&Rossi,2019). When developing rapport with client’s good communication should
also be adhered to.
CLIENT FOCUS- Apart from dealing with numbers they also deal with clients.
Understanding and meeting client expectations is an important trait. Understanding
the industry, the company is operating in will provide a guideline on which proper
accounting measures to implement that will fit the business or the client perfectly.
HIGH COMMITMENT LEVELS-For smooth running of an organization most companies
are looking for committed individuals for long term employment who can align
personal goals with the organizational goals (Burns &Rossi,2019). A jobseeker
should be passionate about the particular job industry.
EDUCATION- Possessing a well-rounded education from a reputable institution with
the relevant skill and experience. To qualify for a corporate accounting position most
employers require a degree in accounting or finance with professional accounting
qualifications as an added advantage.
Duties of a Corporate Accountant
PREPARATION OF FINANCIAL STATEMENTS AND LEDGER
The preparation and consolidation of general ledgers and financial statements
is tasked to corporate accountants. They collect reports from other departments then
consolidate for presentation to company executives. It is also their responsibility to
ensure that each section of the organizations contributes to the organizational
revenue while complying with regulation. At the end of each month they manage the
end moth procedures and variance analysis. When necessary they also liaise with
external auditors
BUDGETS

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Each financial year organizations set certain goals through management of
financial reporting and forecast be (Burns &Rossi,2019). The task of budget
preparation and fund allocations to different departments is implemented by the
corporate accountant. The budgetary allocations may include but not limited to
hiring, purchase of supplies and investments.
ACADEMIC AND PROFESSIONAL QUALIFICATIONS FOR A CORPORATE ACCOUNTANT
1. Public accounting certifications
2. Corporate accounting certifications
3. Government certifications
4. Electronic filing system
5. Degree in accounts or finance
Most of the important key roles tasks and responsibilities required by employers
are well tackled in the course. The accounting course provides adequate knowledge
that can be applied in several industries since the skills and knowledge learned are
transferable from one industry to another. The class has offered advanced
knowledge both theoretically and practically in accounting and finance.
In the competitive job market employability skills continue to be increasingly
important. From the various job advertisements, it can be noted that the most
soughted skills by several employers include positive attitude, team spirit and good
communication skills. The corporate accounting field has seen tremendous changes
from dealing with numbers in the back of the house to being a more engaged
business professional.
With the continuous technological advancements and economies globalization
the accounting industry continuous to experience rapid changes. University
corporate accounting programs are therefore called upon to ensure provision of
necessary technical know-how and necessary skills so as to meet the challenges
caused by the changes. From time to time it is important to get various industry
opinions from employers on what makes a graduate highly employable.
The most prefered skill and attribute by employers from the various
advertisements were Interpersonal skills, personal skills, intellectual capabilities,
functional and organizational capabilities be (Burns & Rossi,2019). The findings from
the research suggest that most employers value interpersonal skills before any other
skill. Interpersonal skills have a direct impact on profitability and productivity
So as to properly reshape business, function efficiently and reduce costs many
businesses are adapting emerging accounting trends. These major trends are
important but some have not been adopted yet in the MPA Unit but are critical for
todays accounting system they include;

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Tax planning and structuring
In Australia tax reporting compliance and regulations are becoming more
complex, time consuming and a burden to businesses (Norton,2018). The tax
legislation and government practices keep evolving, this should therefore be
managed effectively to avoid causing strain to an organization and to save on
resources. A corporate accountant should be able to advice the company to reduce
the amount of tax payable each year, this can be achieved though proper planning
and establishment of a company’s financial position before the end of the year. A
good streamlined approach that is less costly and more efficient should be
developed.
INTERNET ACCOUNTING
The internet has offered businesses access and freedom to their financial
information anywhere anytime (McInnes, 2019). This can be achieved seamlessly by
accessing software using the internet instead of installing through specialized
accounting programs. Through internet accounting businesses can access their
account and produce reports.
OUTSOURCING
Businesses are striving to maximize profits by reducing costs, one of the most
effective way to achieve this is by outsourcing finance and accounting services and
getting a part time accountant when need be (Burns &Rossi,2019). By implementing
this strategy businesses are able to concentrate on the primary business while
accessing services of the most qualified professionals in the field.
AUTOMATION
Businesses are trying to save on time through elimination of manual systems
of data entry. The burden of manual accounting and bookkeeping is reduced by
automation (Norton,2018). Corporate accountants are able to use the spare time on
real accounts issues. Through automation client information can be effectively
utilized from the existing database. Profits can be increased through decrease of
loss of time.
SOCIAL MEDIA
social media use for accounting is gaining popularity at a fast pace through
creation of business presence (McInnes, 2019). Through this expert are able to
provide information in the relevant areas while communicating with millions of people
at minimal costs.
Any employer requires a broad combination of educational accomplishments,
professional success, individual strengths and talents. In the face of globalization
and advancement in technology the accounting profession continues to receive

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scrutiny. So as to gain advantage in the competitive world employers are now
seeking a much wider variety of attributes and skills from graduates compared to the
recent past (Grennan & Michaely 2018). Students are continuously becoming aware
of employers’ expectations in terms of professional, communication and analytical
skills. Apart from the basic knowledge of accounting skills potential employees are
also expected to be street smart and have knowledge on other businesses
awareness. Most of the non-accounting skills are not being tackled well by
universities.
Team work skills, communication skills, problem solving skills, personal and
interpersonal skills should be accorded importance in learning institutions as they go
hand in hand with the accounting skills and will improve student employability by a
greater margin by bridging the competency gap (Burns &Rossi, 2019. Learners
should also be equipped with soft skills for easy transition to the dynamic work
environment. The degree should not only emphasis on technical skills but also
generic skills.
Ethics are equally important as the legal and technical part of the profession
(Al‐Hadi, Chatterjee, Yaftian &Taylor, 2019). Ethics is a moral system providing
guidance when evaluating right from wrong. An accountant has to learn how to act
within the stipulated code of conduct in the work place. The major accounting
organizations provide a code of ethics that members within the profession are
required to follow.
Conclusion
The issue of employability skills continues to be increasingly important over
the years. A careful analysis of the job advertisements in Australia for corporate
accountants shows that a mix of skills are required from prospective employees.
Employers appear to seek a wide variety of skills but most emphasis is place on
personal and interpersonal skills. Employers appear to prefer a candidate with a
positive attitude, good communication skills and a team player, this can clearly
portray the revolution in the accounting section from mere bookkeepers to a fully
engaged business professional.
Most learning institutions put more focus on the intellectual abilities of the
learners and believe that the industry should nurture other requirements on the job,
but academics should also focus on the other employability skills. Interpersonal skills
appear to be the skill with a lot of gap between graduates and employers.
Employability skills are interlinked, if the education system focuses on teaching
teamwork skills it will automatically lead to better communication and people skills.
The skills cited by employers also vary with experience requirement of the job. From
the several job advertisements entry level accountants or less experienced

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accountants are often required to be dynamic, energetic, able to adapt easily and
passionate. The proper use of information technology should also be given emphasis
as they are key for entry level accountants therefore universities should give more
support on this. Institutions should work towards narrowing the gap between the
skills required by employers and the skills developed at the learning institution.
Job advertisements are a key to measuring the skills most desired by the
employer as a way to save time and cost by only appealing to specific applicants. It I
should however be noted that sometimes job advertisements may not be the real
representation of the prospective employer requirements. There is a high possibility
that some important skills required by employers are left out in the advertisements,
the level of competency which is crucial for any job is hardly mentioned in the
various job advertisements. Employers also highly contribute in enhancement and
development of the employability skills of their staff.

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